On Monday, BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), recorded its largest single-day inflow in over a month, drawing in $224 million. This substantial capital injection comes during a slight pullback in Bitcoin’s price, indicating sustained strong demand for the ETF.
The $224 million inflow marked IBIT’s highest since July 22, significantly contributing to the $202 million total net inflows across U.S. spot Bitcoin ETFs on Monday. This influx extends an 8-day streak of positive net inflows into U.S. spot Bitcoin ETFs, highlighting IBIT’s growing dominance in the market.
While IBIT saw robust inflows, other spot Bitcoin ETFs had mixed results. Franklin Templeton’s and WisdomTree’s Bitcoin ETFs each added about $5 million. In contrast, Fidelity’s Bitcoin ETF experienced $8 million in outflows, and Bitwise and VanEck saw outflows exceeding $15 million. These varied performances reflect differing investor strategies and outlooks within the evolving Bitcoin ETF space.
With over $20 billion in net inflows, IBIT has established itself as the leading spot Bitcoin ETF, holding more than 350,000 bitcoins valued at nearly $22 billion. BlackRock’s recent move to include IBIT shares in its Strategic Global Bond Fund further underscores the asset manager’s confidence in Bitcoin’s long-term potential. As mainstream adoption of Bitcoin continues to grow, BlackRock’s ETF is well-positioned to see ongoing inflows, solidifying its status in the market.